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Google is now in preliminary talks to buy Hulu, the Internet video powerhouse that allows you to watch ad-supported television and movies, according to the LA Times. This is in addition to other companies like Microsoft and Yahoo, who've also met with Hulu about a potential acquisition. Interestingly enough, Google has been hard at work on finding a way to get the content that you typically find on Hulu over to YouTube to make the video sharing site a bigger competitor in the media space (not to mention a bigger money-maker as well.) The rights that Hulu has to current season television shows is obviously a valuable asset, and they've got over 600 advertisers as well. In fact, this year Hulu expects to earn over $500 million in ad revenue. The point here isn't to buy Hulu's technology--it's all about the content deals. The big question, though, is how long before those deals expire, and what happens then? This will be an interesting one to watch.